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Data & Statistics

Panama: Installed Electricity Capacity, Generation and Consumption [free access]

May 8, 2019

At the end of 2018, Panama had an effective installed generation capacity of 3,456 MW controlled by around 34 power producers. AES Panama is the country’s largest electricity generator, with a share of 24 per cent of the total generation base, followed by Celsia Group holding a 10 per cent share, and Enel with an 8 per cent share. The total installed capacity grew at a compound annual growth rate (CAGR) of 6 per cent during the five-year period spanning 2014-18.

 

Of the total installed capacity, the majority or about 52 per cent was hydro-based; 36 per cent was thermal-based; and renewable sources, including wind and solar power, together accounted for a 12 per cent share. The government’s push towards generating more electricity from renewable sources (solar and wind) resulted in increasing the share of renewable energy from a mere 68 MW in 2014 to 397 MW in 2018, representing a CAGR of 56 per cent.

 

Table 1: Growth in Panama’s installed electricity capacity (MW)

Source

2014

2015

2016

2017

2018

 Hydro

      1,538

       1,579

       1,633

       1,812

       1,812

 Thermal

       1,138

       1,040

       1,240

       1,109

      1,247

 Wind 

           55

            55

         270

          270

          270

 Solar

            13

           25

            89

            90

          127

Total

       2,743

       2,698

       3,231

3,280

      3,456

 Annual growth rate (%)

12.0

(1.6)

19.8

1.5

5.3

Source: Autoridad de Servicios Publico (ASEP)

 

In 2018, 8,556 GWh of electricity was generated and 8,360 GWh of electricity was sold in Panama. However, in 2018, both gross electricity generation and electricity sales witnessed a slight drop, with gross electricity generation falling from 11,028 GWh in 2017 to 8,556 GWh in 2018, whilst electricity sales declined from 8,474 GWh in 2017 to 8,360 GWh in 2018.  

 

Of the total electricity sales in 2018, 50 per cent was consumed by the commercial sector; 37 per cent by the residential sector; and 8 per cent by the government. The remaining was shared by industrial, street lighting and consumption of the distribution companies.

 

 

Figure 1: Growth in Panama's electricity generation and consumption (GWh) 

Note: Consumption reflects total sales.

Source: Autoridad de Servicios Publico (ASEP)

 

On the other end, during 2014-18, power exchange witnessed a favourable trend with power exports increasing and imports decreasing substantially. Power exports to neighbouring countries peaked significantly to 398 GWh in 2016 compared to 97 GWh in 2014.  Power imports peaked in 2014 reaching 160 GWh, post which they significantly dropped to 13 GWh in 2018.

 

Figure 2: Trends in Panama’s power exports and imports (GWh)

Source: Autoridad de Servicios Publico (ASEP)